In 1556, at the age of 29, King Philip II became the ruler of the mighty Spanish Empire, overseeing a kingdom on which the sun literally never set. With territories spanning Europe, the Americas, Oceania, Asia and Africa, the Spanish Empire remains one of the most influential institutions in history, with its cultural and linguistic heritage still present in society today. To finance its global kingdom, Spain relied primarily on an influx of raw materials and products exported from its transatlantic territories. Interestingly, it was Spain's very dependence on these foreign goods, namely South American money, that proved to be its Achilles heel. Thus, the following questions will be addressed: how did this illusory mineral lead to the fall of one of the greatest empires of all time, and more broadly, how did it affect other foreign economies, notably China. And finally, what toll did the creation of this massive silver industry take on Native Americans? Fleeing the effects of disease on their society, the Spanish fled to Mexico in 1519 and then to Peru in 1532. They conquered the Incas in Mexico and the Aztecs in 1532. Peru, and soon after created their own civilization there respective. The Spanish founded new governments to govern these new societies. In 1521 the Viceroyalty of New Spain was established and in 1542 the Viceroyalty of Peru was established. After conquering the Incas and Aztecs, the Spanish adopted many rituals and regulations because their views overlapped a lot. One of the main aspects that linked the Spanish to the Incas and Aztecs was their wish not to separate government and religion - a very important part of Spanish worship... middle of paper ...... was become very prosperous. However, as with the Spanish, this did not last long. Inflation became one of their biggest problems, followed by spending too much money to defend their nation with the Great Wall. Shortly after these problems arose, the Ming dynasty was overthrown by the Fu Manchus. The first world market was that of the silver trade by the Spanish. Although this was a true feat, it had terrible consequences. Spain and China have gone through difficult times due to inflation. which weakened their governments. The desires of the Spanish to find these precious metals led to the deterioration of the Aztecs and Incas. Finally, a catastrophic number of people were killed during the silver purification and extraction process due to the toxic behavior of the mercury used during the purification process..